Trails Edge Capital Partners, LP — 13F Holdings & Portfolio
CIK 2077247 · latest 13F-HR filed 2026-05-15
Trails Edge Capital Partners, LP manages $436.5M in 13F-reported U.S. long-equity assets across 27 reported positions as of its 2026-03-31 13F-HR filing. Its largest disclosed positions are PCVX (8.82%), DFTX (7.53%), LBRX (7.45%). Quarter over quarter (versus its 2025-12-31 filing) the fund opened 12 new positions, exited 9, added to 5, and trimmed 4.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
$436.5M
Long-equity book
27
Distinct positions
2026-03-31
Filed 2026-05-15
+12 / −9 / ↑5 / ↓4
vs 2025-12-31
| Name | Title / Status | Ownership | Type |
|---|
Top Adds (vs prior quarter)
- MIRUM PHARMACEUTICALS INC$28.3M +1123.4%
- VAXCYTE INC$4.5M +13.1%
- IMMUNOVANT INC$4.2M +68.5%
- INVENTIVA SA$2.4M +19.4%
- INHIBIKASE THERAPEUTICS INC$871.2K +6.9%
Top Trims
- NURIX THERAPEUTICS INC-$6.0M -18.3%
- VTV THERAPEUTICS INC-$3.7M -40.1%
- CAMP4 THERAPEUTICS CORP-$3.6M -29.7%
- IMMUNOCORE HLDGS PLC-$3.1M -13.1%
New Positions
- DEFINIUM THERAPEUTICS INC$32.9M
- REVOLUTION MEDICINES INC$23.8M
- CYTOKINETICS INC$19.8M
- SYNDAX PHARMACEUTICALS INC$16.4M
- 4D MOLECULAR THERAPEUTICS IN$12.1M
Exited Positions
- ACADIA PHARMACEUTICALS INC$37.9M
- MIND MEDICINE MINDMED INC$34.4M
- TYRA BIOSCIENCES INC$18.4M
- AMICUS THERAPEUTICS INC$14.9M
- APOGEE THERAPEUTICS INC$14.5M
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | VAXCYTE INC | PCVX | 92243G108 | $38.5M | 8.82% | 662,470 | SH |
| 2 | DEFINIUM THERAPEUTICS INC | DFTX | 24477V105 | $32.9M | 7.53% | 1,738,110 | SH |
| 3 | LB PHARMACEUTICALS INC | LBRX | 50180M108 | $32.5M | 7.45% | 1,319,362 | SH |
| 4 | MIRUM PHARMACEUTICALS INC | MIRM | 604749101 | $30.8M | 7.05% | 333,312 | SH |
| 5 | NURIX THERAPEUTICS INC | NRIX | 67080M103 | $27.0M | 6.19% | 1,743,220 | SH |
| 6 | XENON PHARMACEUTICALS INC | XENE | 98420N105 | $25.6M | 5.86% | 440,000 | SH |
| 7 | REVOLUTION MEDICINES INC | RVMD | 76155X100 | $23.8M | 5.46% | 245,000 | SH |
| 8 | ARCUS BIOSCIENCES INC | RCUS | 03969F109 | $22.6M | 5.19% | 1,047,935 | SH |
| 9 | IMMUNOCORE HLDGS PLC | IMCR | 45258D105 | $20.6M | 4.71% | 682,597 | SH |
| 10 | CYTOKINETICS INC | CYTK | 23282W605 | $19.8M | 4.53% | 300,000 | SH |
| 11 | SYNDAX PHARMACEUTICALS INC | SNDX | 87164F105 | $16.4M | 3.76% | 701,821 | SH |
| 12 | NEUROGENE INC | NGNE | 64135M105 | $15.8M | 3.62% | 782,787 | SH |
| 13 | INVENTIVA SA | IVA | 46124U107 | $14.8M | 3.38% | 2,657,997 | SH |
| 14 | INHIBIKASE THERAPEUTICS INC | IKT | 45719W205 | $13.5M | 3.10% | 8,057,345 | SH |
| 15 | 4D MOLECULAR THERAPEUTICS IN | FDMT | 35104E100 | $12.1M | 2.78% | 1,302,917 | SH |
| 16 | XENON PHARMACEUTICALS INC Put | XENE | 98420N105 | $11.6M | 2.66% | 200,000 | SH |
| 17 | X4 PHARMACEUTICALS INC | XFOR | 98420X202 | $10.6M | 2.43% | 2,571,478 | SH |
| 18 | IMMUNOVANT INC | IMVT | 45258J102 | $10.3M | 2.36% | 414,054 | SH |
| 19 | DESIGN THERAPEUTICS INC | DSGN | 25056L103 | $9.1M | 2.08% | 852,013 | SH |
| 20 | CAMP4 THERAPEUTICS CORP | CAMP | 13463J101 | $8.6M | 1.96% | 1,939,563 | SH |
| 21 | MINERVA NEUROSCIENCES INC | NERV | 603380205 | $8.5M | 1.96% | 1,419,000 | SH |
| 22 | PROMIS NEUROSCIENCES INC | PMN | 74346M505 | $7.1M | 1.62% | 557,103 | SH |
| 23 | SOL-GEL TECHNOLOGIES LTD | SLGL | M8694L137 | $6.8M | 1.55% | 85,496 | SH |
| 24 | CENTURY THERAPEUTICS INC | IPSC | 15673T100 | $5.5M | 1.27% | 2,449,993 | SH |
| 25 | VTV THERAPEUTICS INC | VTVT | 918385204 | $5.5M | 1.27% | 139,578 | SH |
| 26 | SENSEI BIOTHERAPEUTICS INC | SNSE | 81728A207 | $3.9M | 0.90% | 125,000 | SH |
| 27 | OPUS GENETICS INC | IRD | 67577R102 | $2.3M | 0.52% | 500,000 | SH |
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-03-31 | 2026-05-15 | $436.5M | 27 | 0002077247-26-000003 |
| 2025-12-31 | 2026-02-17 | $404.7M | 23 | 0002077247-26-000002 |